Antibody-drug conjugate (ADC) star company DUALITYBIO (stock code: 9606) plans to officially list on the Hong Kong Stock Exchange on Tuesday, April 15. As of the time of publication, the dark market shows that the stock has surged over 70%, with a current price of HKD 162.
DUALITYBIO completed its Hong Kong IPO on April 10, raising over USD 200 million, making it the largest financing scale and highest valuation increase IPO case in the 18A category since 2022. Market news indicates that the total amount raised in this issuance reached USD 211 million, significantly higher than the original plan, reflecting the capital market's high recognition of its innovation capabilities.
According to public information, this IPO set multiple records for 18A biotechnology companies: the company's valuation tripled, becoming the project with the largest valuation increase in the sector that raised over USD 50 million; the international placement portion recorded an oversubscription of 14.9 times, setting the highest subscription multiple since 2022.
In addition, against the backdrop of current market volatility, the company successfully attracted cornerstone investments from 15 top international long-term funds and leading domestic public funds, including BioNTech SE, Lake Bleu, TruMed, Franklin Templeton Hong Kong, E Fund, Huatai-PineBridge, and Panjing Fund, with a total subscription amount reaching USD 65 million (approximately HKD 505 million), demonstrating the confidence of diversified international capital in its long-term value.
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The leading player in the antibody-drug conjugate (ADC) sector, DUALITYBIO, officially listed on the Hong Kong Stock Exchange on Tuesday, April 15. As of the time of writing, the dark market shows that the stock has surged over 70%, with a current price of HKD 162

- Leading antibody-drug conjugate (ADC) company InnoCare plans to officially list on the Hong Kong Stock Exchange on April 15.  
- The company raised over $200 million in its IPO, marking the largest financing scale and valuation increase for an 18A biotech IPO since 2022, with a total fundraising amount reaching $211 million.  
- The IPO attracted significant interest, with a 14.9 times oversubscription in the international placement and participation from 15 top international and domestic funds, reflecting strong confidence in its long-term value.

New Stock Dark Market | DUALITYBIO-B surged over 70% in the dark market, current price HKD 162!